Boston Metro North Real Estate

Merrimack Valley Real Estate Blog Moved

Kevin Vitali — Thu, 23 Dec 2010 15:33:00 GMT

This will be the last post for Merrimack Valley Real Estate. I have moved the blog to a different a hosted Wordpress site for easier usability. Please visit our new format!!...(read more)

Why is a Short Sale better for me than a foreclosure?

Kevin Vitali — Mon, 13 Sep 2010 15:45:00 GMT

I have written past articles about why you should consider a short sale over a foreclosure. Lately, I have been on a few short sale appointments where the home sellers feel if they are going to lose their home anyways why bother with a short sale instead of a foreclosure. So I thought it was worth reiterating why a short sale is usually more beneficial to a homeowner than a foreclosure. There are 2 reasons that a short sale is better than a foreclosure: Credit Retention- A short sale will typically...(read more)

Stay or Don't Stay During a Short Sale?

Kevin Vitali — Wed, 08 Sep 2010 11:54:00 GMT

A question I receive quite often from a short sale seller is should they move right away. First off you need to do what is best for your family. But with that said, It is best if you stay in your home while going through the short sale process. There are several reasons that make it important to stay in your home during the short sale process. Usually an occupied home sells better than a vacant home. The home will be kept up, lawns mowed, gardens weeded and any maintenance issues taken care of. Abandoned...(read more)

Open House- North Andover Townhouse- New to Market

Kevin Vitali — Sat, 04 Sep 2010 21:38:00 GMT

3 Bedrooms, 2 Full Bath, Approx. 2000 sq feet Meticulously maintained townhouse. This townhouse has it all... size, location and condition!! Many recent updates including kitchen, baths, refinished floors and much more.... move into this library area gem and not worry about a thing. Quick walk to downtown!! Rooms are spacious and there is a nice flow through the living area. The kitchen is new with tons of room including a great eat in area. Have your own outdoor space including a large deck as well...(read more)

61 Ayers Village Road in Ayers Village is Sold! Successfull Short Sale!!

Kevin Vitali — Sat, 04 Sep 2010 13:32:00 GMT

Ayers Village, Haverhill - The colonial at 61 Ayers Village Road has been sold.

Property information

Many time I am asked by buyers and real estate agents that do not normally engage in the business of short sales, is how much does the seller owe on the home or what is the deficiency that the bank is taking. Of course the question is asked because they the the larger the deficiency the less likely that the bank will accept an offer. NOT TRUE

The bank is not so concerned with the deficiency balance as much as they are about the price of an offer as compared to fair market value today. My short sale team has successfully negotiated deficiencies that are more than 50% of what is owed on the property. The bank knows in today's market that they can only get so much for a home. What is owed is not a huge consideration for the bank. The banks are more concerned with what is fair market value today and how close can we get to fair market value.

If you are a seller that is under water on your home and don't know where to turn, call Kevin at 978-360-0422. He will explain all of your options and devise a plan that is best for you and your family.

Townhouse For Sale in Merrimac

Kevin Vitali — Tue, 03 Aug 2010 17:22:00 GMT

Private yard!!

• 1,164 sq. ft., 1 bath, 3 bdrm townhouse - MLS® $185,000 - Taste, Stye and Charm

Merrimac, Essex County - Taste, style and charm abound in this not your "cookie cutter condo". Approximately
14,000 square feet of exclusive use yard!! with garage/storage shed Rare opportunity to have your own private yard with a condo!! Tons of living space as well as 3 bedrooms. Completely renovated around 2000. Deck off master bedroom as well as off the kitchen. Kitchen is spacious, light and bright, Minutes to down town Merrimac as well as route 495. No monthly condo fee!! Property is a short sale and is subject to lien holder approval acceptable to the seller.

View all the photos

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This post was provided by Kevin Vitali of EXIT Group One Real Estate In Tewksbury MA. You can contact Kevin by email at kevin@kevinvitali.com or call 978-360-0422.

I pride myself in the quality of my work while helpingbuyers and sellers make dreams come true.

Real Estate Services in the northeast Massachusetts, around the Merrimack Valley, Southern New Hampshire including the towns of Andover, Billerica, Boxford, Chelmsford, Dracut, Georgetown, Groveland, Haverhill, Lawrence, Lowell, Merrimac, North Andover, Newbury, Newburyport, North Reading, Rowley, Tewksbury, Tyngsboro, Westford, Wilmington, West Newbury

Information on Foreclosure and Short Sales

Should I Short Sale My Home

Avoid Foreclosure- Know your options including a short sale

Why a Sort Sale?

Free list of non-profits for homeowners facing foreclosure in Massachusetts

Pricing it Right- Understanding How Buyers Think and Search for Homes

Kevin Vitali — Sun, 18 Jul 2010 18:25:00 GMT

Pricing your home right is 70-80% of the marketing of your home. No amount of marketing will sell an overpriced home. The right price should generate showing activity of 12-20 showings in a 3-4 week period. With-in 12-20 showings a properly priced homes will receive an acceptable offer. Lets look at how the different parties generally view the value of a home for a given real estate market. Sellers want as much money as possible and it is easy to overvalue their home based in inaccurate data or lack...(read more)

2 Story For Sale in South Lawrence

Kevin Vitali — Fri, 09 Jul 2010 19:27:00 GMT

Desirable South Lawrence Townhouse

• 984 sq. ft., 2 bath, 2 bdrm 2 story - MLS® $72,500

South Lawrence, Lawrence - Affordable and spacious South Lawrence town house, located right on the North Andover Line. Clean and fresh this unit is ready for you to move right in. Full basement offers opportunity for finishing as well as laundry and work area. CONDO FEE INCLUDES HEAT and HOT WATER. Hop on to 495 in minutes 1.1 miles from the Commuter Rail in Lawrence. Outdoor patio for relaxation. This unit has much to offer check it out.

Property information

41 Floyd Avenue in North Tewksbury is Sold!

Kevin Vitali — Fri, 09 Jul 2010 18:02:00 GMT

North Tewksbury, Tewksbury - The colonial at 41 Floyd Avenue has been sold.

Property information

For more information on getting your Tewksbury home sold call your local Tewksbury Realtor, Kevin at 978-360-0422

30 Market Street, Unit 14 in Downtown Arts District is Sold!

Kevin Vitali — Fri, 09 Jul 2010 17:42:00 GMT

Downtown Arts District, Lowell - The other at 30 Market Street, Unit 14 has been sold.

30 Market Street was a short sale with a first and second loan with Bank of America (also had to negotiate with a mortage insurance company). Listed in November and closed in June. Client sells in a short sale and walks away happy.

Property information

If you have missed mortgage payments or know you will, or have received your notice of default, order of notice and don't know what to do... Call Kevin at 978-360-0422. You have about 5 options to prevent a foreclosure on your property. I will explain your options and discuss which options may be best for you. Of course any conversation we have is confidential and free!! There are reasons to prevent the bank from taking your home in foreclosure and it is important to know you do have options.

Misconception about the Declaration of Homestead

Kevin Vitali — Sat, 03 Jul 2010 14:11:00 GMT

The Declaration of Homestead Act basically allows a homeowner to protect up to $500,000 in equity in their home against creditors. The home must be the homeowners primary residence. I have recently run into a situation where homeowners are stunned that creditors have filed a lien against their home, and say to me"I have a Homestead on file they can't do that". The Declaration of Homestead, does not prevent a creditor from slapping a lien on your home nor wipes out the obligation of...(read more)

Replace of Give a Credit for that Old, Out Dated Carpet....

Kevin Vitali — Wed, 23 Jun 2010 19:40:00 GMT

I ran across this great article with good sample pictures. Many times sellers want to give credit for carpets (or other items). Personally, I always recommend you replace the carpet with a nice neutral carpet. First of all it while buyers are choosing properties on the internet they are looking at the old ugly carpet and not realizing there is a credit available. Secondly the new carpet can change the whole look of the room. In this difficult real estate market you need to give your home every advantage...(read more)

Money isn't everything when making an offer

Kevin Vitali — Tue, 22 Jun 2010 16:35:00 GMT

Here is an interesting article from MSN Real Estate . I felt this article made some good points. I recently closed on a real estate transaction that highlighted some of the points in this article. I had buyers who knew they were competing with multiple offers on a property. They asked me my advise about how they should handle the offer. Initially they wanted to receive money back for closing costs and wanted to include personal items of the sellers in the sale. They had the cash to pay the closing...(read more)

How much does a short sale cost?

Kevin Vitali — Mon, 21 Jun 2010 17:35:00 GMT

I receive this question a lot. Sellers are concerned about how much a short sale will cost on their home. In a nutshell, the answer is a short sale should cost you nothing. Most fees in a short sale are paid by the bank!! The bank allocates fees for real estate commissions, attorneys fees and general closing costs when they are running a financial analysis on a property. In many cases, the home owners bring nothing to the closing table. There are a few expenses that it is difficult to get a bank...(read more)

Is the housing recession over?

Kevin Vitali — Wed, 16 Jun 2010 14:41:00 GMT

I just ran across this article on Zillow. I can't say it any better than this article. I have felt that we are starting to see a bottoming out of home prices and home prices should stabilize throughout the end of the year. Good News!! Unfortunately, I believe that the housing market will remain relatively flat for the next few years. I don't think we will be seeing any major appreciation in the next two to three years. Again the Zillow article explains it well. Real quick there are several...(read more)

Wakefield MA- Short Sale Closed Today!!

Kevin Vitali — Thu, 03 Jun 2010 23:05:00 GMT

Successfully closed on a short sale in Wakefield Massachusetts today. This home was a relatively easy one. US Bank was the only lien holder and we received short sale approval in 15 days from submitting the package. No deficiency judgments!! From the lender standpoint this was perfect, no issues no additional liens. many times we have to deal with multiple liens, mortgage insurance companies, tax liens and so on..... Blazing fast... kudos to US Bank for a fast turnaround on this short sale. If you...(read more)

Home Staging Tip- Removing Area Rugs on Hardwoods

Kevin Vitali — Thu, 03 Jun 2010 22:24:00 GMT

When preparing your home for sale to be viewed by potential buyers it is important to highlight the homes best features. Homes staging is not about redecorating it is about "merchandising" you home. One great tip that doesn't cost any money is to consider removing area rugs that are covering the hard wood floors. Buyers love hardwoods and they can be a major selling point. Don't hide those hardwoods!! Not only does removing the rug highlight the hardwoods it can also visually open...(read more)

FHA Approved-Updated Tewskbury Condominium Projects

Kevin Vitali — Tue, 01 Jun 2010 17:02:00 GMT

Condominiums have been a bit problematic in the low money down arena in the housing market. If you are looking to do FHA financing your options may be limited. The other option to consider is a Mass Housing loan for your condo purchase. Following is a list of FHA approved complexes. Indian Ridge Katie Estates Merrimack Meadows Pheasant Hunt Roper Estate Tewksbury Townhouses The Village ant Tewksbury Villa Roma View all the Tewksbury Massachusetts Condos for Sale...(read more)

Buying a Short Sale- What you must know....

Kevin Vitali — Thu, 27 May 2010 15:25:00 GMT

> Dfinition of a short sale: A short sale of a property is where a homeowner must sell their home due to a hardship (usually financial) for less money than what is owed to the mortgage holder(s). In a short sale the seller must get permission from the lien holder(s) to sell for less money than what is owed. Many times their can be more than one lien holder, there can be a first mortgage, a second mortgage, a home equity lien of credit and /or private mortgage insurance. All of these parties must...(read more)

Getting Ready to Sell Your Condo- Extra Documentation

Kevin Vitali — Wed, 26 May 2010 21:56:00 GMT

In many ways preparing your condominium to sell is much like selling a single family home for sale. You want to make sure it is in tip top condition from head to toe as well as make it aesthetically pleasing. One difference of marketing a condominium vs a single family home is you also have to provide buyers with information regarding the condominium complex as a whole. When buyers are buying a condominium they are buying a piece of the whole and you must provide information regarding the association....(read more)

The #1 Step of Preparing Your Home to Sell

Kevin Vitali — Mon, 24 May 2010 21:45:00 GMT

You may not have a lot of money to do costly repairs or updating to your home before listing your home for sale with a real estate agent, but you can: Clean, Clean and Clean some more. Make your home sparkle from corner to corner. You may not have a lot of updates but buyer's are impressed with a clean home. When it comes to selling your home you cannot over-clean. Bathtubs and sinks should be absolutely spotless as well as cabinets and floors. If you are not the best house keeper normally don't...(read more)

Short Sale Success in Haverhill MA

Kevin Vitali — Mon, 24 May 2010 20:52:00 GMT

18 Jeffery Lane, Haverhill MA 01832- Sold $160,000 2 Bed, 1.5 Bath, 1240 square feet- Townhouse Last week we were able to close on this townhouse last week. The transaction was a short sale and required lien holder approval form the first lien holder, New York Mortgage Trust and the second lien holder, Citi Mortgage. Two mortgages does present its problems whn negotiating a short sale, but my short sale team is getting them done. Kevin Vitali is a real estate agent that has been specializing in helping...(read more)

Tewksbury MA Condos for Sale from 195k

Kevin Vitali — Thu, 20 May 2010 14:10:00 GMT

Tekwsbury MA is a great community to by a condominium. Condominium prices are affordable as well as Tewksbury being a great commuting community. Search for condos between: $150,000 to $250,000 22 condos available $250,000 to $300,000 11 condos available $300,00 and up 18 condos available Kevin Vitali- EXIT Group One Real Estate- office 978-851-3600 cell 978-360-0422 For more information on Tewksbury and Massachusetts Real Estate $189,000 1 Tewksbury Tewksbury 2 Beds | 1 Baths | 1 Half | 1240 SqFt...(read more)

The Short Sale "Hardship"

Kevin Vitali — Tue, 11 May 2010 15:01:00 GMT

For many homeowners a short sale is the last option before foreclosure. When a bank is considering a short sale they aren't doing it just because the seller is upside down on their home. They are generally looking for a financial hardship to justify doing the short sale. The hardship letter and the financial package basically shows the bank there is no way you can continue to make the payments on your home. Your financial problems now becomes the banks problem if you can show you can't make...(read more)

Dracut Massachusetts Short Sale Successfully Closed- No Deficiency Judgements!!

Kevin Vitali — Mon, 10 May 2010 20:29:00 GMT

Another Dracut MA Short Sale Successfully Closed Short Sales can be a complicated real estate transaction. My Short Sale team and I just successfully closed another short sale in Dracut Massachusetts. This particular home required short sale approval from three parties.... the 1st Lien Holder, the 2nd Lien Holder and a mortgage insurance company. All three parties allowed the seller of this short sale to sell the home with no future collection of a deficiency judgment. This home was listed for sale...(read more)